Lucky or Good, I fully expected Fed to hike 50bp in May because the Fed follows the (bond) market. I also expected the bond and equity sell-off into FOMC with potential for a "short-lived, short-covering" relief bounce this week. Although I am not sure how much of a relief we will get, it was a fairly predictable "sell the rumor, buy the news" of rate hike.
Expectations Were Met
Expectations Were Met
Expectations Were Met
Lucky or Good, I fully expected Fed to hike 50bp in May because the Fed follows the (bond) market. I also expected the bond and equity sell-off into FOMC with potential for a "short-lived, short-covering" relief bounce this week. Although I am not sure how much of a relief we will get, it was a fairly predictable "sell the rumor, buy the news" of rate hike.